Consumers are cutting back — and the AP says that shoppers are abandoning Target for even cheaper stores. In addition, Target’s credit card division is running into trouble as shell-shocked shoppers aren’t able to pay their bills.

The company also has seen rising delinquencies in its credit-card business, another source of trouble. The credit card business dragged down fourth-quarter results with a one-time, pre-tax loss of $135 million.

So, what do you think, is Target too expensive?

Target 4Q profit falls 41 percent amid downturn [AP](Thanks, j!)
(Photo:intangiblearts)

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